Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
